Risk information

§ 01

1. How to read this document

This text is not a defensive annex. It is part of the service in the same way its features are, and it is written to be read in full before you pay.

Each risk is presented through its mechanism: what actually happens, in what order, and why the outcome can be a loss. Naming a risk without explaining it leaves the reader accepting a phrase rather than a fact.

No performance figure appears here, or anywhere on this site: no customer outcome has been measured to date, and an empty box is better than an unmeasured number.

This is a high-risk product. If a single sentence in this document strikes you as unacceptable, the reasonable conclusion is not to subscribe, rather than to subscribe hoping it will not happen.

§ 02

2. Total loss is possible

Digital assets can lose all their value. A total loss of the capital you commit is possible.

The mechanism: a token has no intrinsic value guaranteed by a solvent issuer. Its value depends entirely on what someone is willing to pay to obtain it. If the team behind it disappears, if the contract is drained, if the market stops caring, or if liquidity that never belonged to the project is withdrawn, no floor remains: the price can go to zero and stay there.

This risk is softened nowhere else on this site. It is written first because it is the most frequently euphemised in this industry.

§ 03

3. Volatility

The value of a digital asset can move sharply and fast, including in the interval between reading an analysis and signing.

The mechanism: these markets run continuously, with no session and no close, and often with thin order books. A modest order can therefore move a price disproportionately, and a position can be liquidated in the middle of the night, with no one to warn you. The speeds of movement seen on these assets have no equivalent on deeper markets.

Practical consequence: an analysis is dated. The longer the gap between the analysis and your decision, the less it describes the real situation. The software timestamps what it produces precisely so that you can judge that.

§ 04

4. Illiquidity

An asset can become unsellable, temporarily or for good.

The mechanism: selling requires a buyer, and buyers can vanish in several ways. A listing is withdrawn, a liquidity pool dries up, an administrator pauses the contract, a contractual lock-up prevents exit before a date, an exit penalty makes selling economically absurd, or a cross-chain bridge is suspended and strands the asset on the wrong side.

Practical consequence: a displayed value is not a realisable value, and the gap between the two can be total. A balance shown in an interface proves neither that you can sell it, nor at what price.

§ 05

5. Malicious or defective contracts

Signing a transaction means authorising a program to act. A malicious, badly written or later-modified program can cost you everything your wallet holds.

The most common mechanisms, named so that you recognise them: an unlimited spending allowance, which lets a contract take an asset whenever it chooses, long after your signature; an administrative function that lets its holder withdraw deposited funds; an upgradeable contract whose logic is replaced after you examined it; an off-chain signature presented as harmless that in fact authorises a transfer; and a pixel-perfect copy of an interface that makes you sign something other than what you believe.

What the software does: it runs these checks before every operation, replays them at signing time, and refuses on failure, in both modes; in FULL AUTO mode, doubt means refusal. What it does not do: it does not certify that a contract is safe, and it cannot prevent a transaction you sign yourself, outside the product or against its checklist. A check that passes reduces one class of known risks; it proves nothing.

§ 06

6. Losing your keys: irreversible, and we can do nothing about it

You alone hold your keys. If you lose your recovery phrase, or if someone else obtains it, the consequence is final.

The mechanism: on a public network the key does not open an account held by someone; it is the only proof of control. There is no authority able to reissue access, no fallback register, no reset procedure. A disclosed recovery phrase lets a wallet be emptied immediately, with no warning and no recourse.

Our position, in both directions: we hold no key, so we cannot move your assets, and we cannot give them back to you either. No request, no proof of identity and no exceptional procedure changes that fact. It is the exact counterpart of the security this architecture gives you.

The policy envelope exists to bound the exposure to execution: cap per operation, cap per day, cumulative budget, expiry. What can be committed in an operation that goes wrong is bounded in advance by what you signed, and by nothing else.

§ 07

7. A third-party protocol changing its rules

The protocols the software observes owe us nothing, commit to no one, and can change their rules at any time.

The mechanism: a team announces criteria and then modifies them; a distribution is postponed, reduced, reserved for others, or cancelled; addresses are excluded after the fact on grounds defined after the fact; activity that counted stops counting; a programme closes without notice. None of those decisions gives you recourse, against them or against us.

Practical consequence: past activity creates no entitlement. Work you do relying on announced rules may produce nothing, and that will be a normal outcome of how those programmes operate, not a malfunction of the software.

§ 08

8. No guaranteed outcome

No outcome is guaranteed, promised or assigned a probability. What you buy is a software licence: a fleet of agents that searches, builds cases and executes inside the limits you signed. What it finds depends on protocols and the market, not on its diligence alone.

The mechanism of the possible failures: the public data the analyses rest on can be incomplete, altered or withdrawn by whoever published it; a source can stop responding; an analysis can be late, incomplete or wrong; and an artificial-intelligence model can produce a false statement confidently. We fix the defects reported to us, but we cannot warrant the accuracy of a state of the world we do not control.

To date, no customer outcome has been measured. No performance figure is therefore published, in either language, on any surface.

§ 09

9. No insured deposit

The service holds no asset. No deposit guarantee, no protection fund and no insurance applies to your assets.

The mechanism: guarantee schemes protect assets entrusted to an authorised institution. Here nothing is entrusted to us. Your assets stay in your own wallets, and the only amount paid to us is the price of a software subscription: that price is not a deposit, bears no interest and creates no claim against us other than the supply of the software.

Read this carefully if the publisher’s name suggested something else: Delta-One Capital Sàrl sells analysis software, with no asset custody and no investment advice. It is not a bank, not a portfolio manager, not a securities dealer and not a custodian, and it holds no authorisation of that kind. "Capital" is part of its company name; it describes neither a regulated financial activity nor a service supplied to you.

§ 10

10. Tax risk

The tax treatment of your operations depends on your situation and your jurisdiction. It is entirely yours.

The mechanism: an operation can be taxable at the moment it occurs, regardless of whether you sold anything and regardless of what the price does afterwards. The Swiss tax authority states, for instance, in a working paper dated 14 December 2021 whose link appears at the foot of this page, that free token allocations are taxable at market value as income from movable property, at the time of allocation. A receipt valued on a given day can therefore be taxable even if the asset is worthless six months later.

What we do and do not do: we provide complete, timestamped, sourced and verifiable exports, carrying the market value at the instant of each receipt where it is available, together with its source. We give no tax advice, compute no tax base, qualify no operation and produce no document that can be relied on before a tax administration. The exports deliberately contain no column carrying a tax qualification: they deliver facts, your adviser qualifies them.

A second point deserves your attention: depending on the scale and organisation of your activity, an administration may treat it no longer as managing your private wealth but as a business activity, with a different tax treatment. That boundary depends on your situation, not on the software.

§ 11

11. Regulatory risk

The framework applicable to crypto-assets, and to the software that analyses them, is moving fast, in Switzerland and elsewhere.

The mechanism: a new text, a new supervisory practice or a court decision may make it necessary to restrict a function, to stop serving a territory, or to change the product. A protocol you use may itself become unreachable from your country. Those changes can arrive without useful notice and without our being able to resist them.

What we undertake to do in that case: warn you, give reasons for the restriction, and refund the paid and unused part of the period if we have to withdraw a substantial function or stop serving you. What we will not do: state that we are outside the scope of one regime or compliant with another. That would be a self-qualification, and writing it would not make it true.

§ 12

12. The exact scope of the software

The software finds, qualifies, verifies, executes and tracks, from public data and the addresses you declare. In SEMI-AUTO mode, every transaction requires your signature, in your own wallet. In FULL AUTO mode, it executes on its own, exclusively inside the limits of the policy envelope you signed, checked again at signing time.

It holds no key, receives no asset, can commit nothing beyond your caps, cannot widen the envelope itself, and cannot prevent a transaction you sign yourself outside the product. No investment advice is provided, and no analysis is tailored to your personal situation.

The pre-signature checks run in both modes. In SEMI-AUTO mode they are displayed to you and the decision is yours; in FULL AUTO mode they are blocking, and an unknown value means refusal. They reduce one class of known risks; they certify nothing.

The budget you declare in the application is not a pricing plan, not a deposit with us, not a promise and not a recommendation to invest. It stays on your own wallet, serves only to calibrate your alerts and limits, and enters no commission calculation.

§ 13

13. Conflicts of interest

• Affiliate programme: we pay third parties who pointed you to the service. Content that brought you here may be paid for. That remuneration relates only to net collected software subscriptions, never to your capital nor to an operation you carry out.
• Outbound links: every link to a third-party platform is marked as paid or unpaid, without exception.
• Own positions: if the operator or its directors hold an analysed asset, the holding is disclosed, or an abstention policy is published. The rule adopted is written before going to market.
• Data providers: where a provider is also a commercial counterparty, the link is disclosed.
• Business model: the service is paid for by a flat subscription. It is not paid by transacted volume, by performance fee, or by protocol rebate. Were that to change, disclosure would precede the change.

§ 14

14. How this information is presented to you

• It is crossed before payment, in a screen you cannot bypass, not in a footer link.
• It is confirmed point by point, through boxes that are never pre-ticked, whose timestamp and version are kept. The detail is in the "Acceptance of risks" document.
• It is presented again at every major version and at every change in the scope of the service.
• Its typography is at least as prominent as that of the benefits shown on the same page: a benefit in a headline and a limit in a footnote would be an imbalance, and therefore a way of concealing a danger.
• It is permanently available from the product, versioned and dated, and previous versions stay available.
• It exists in French and in English, in the same version and on the same date.